The NZDUSD opens at 0.7355 (mid-rate) this morning.
The NZDUSD has raced higher this morning after touching 0.7175 following the RBA’s decision to cut their OCR.
The NZD has benefited on the back of a strong Fonterra dairy Auction (up 9.4%) and news that the Greek government had dropped calls for a write-off of its foreign debt which in turn increased investors risk appetite.
Global equity markets with the Nikkei being the exception closed lower on Friday - Dow -1.45%, Nikkei +0.39%, Shanghai -1.59%, FTSE -0.90% DAX -0.41%, CAC -0.59%.
Gold prices are down 1% at $1262 (-$12), Oil prices have broken up through $50 a barrel currently trading at $53.62.
The current indicative mid-rates are:
NZDUSD 0.7355
NZDEUR 0.6405
NZDGBP 0.4851
NZDJPY 86.42
NZDAUD 0.9457
NZDCAD 0.9138
Domestic data releases today:
10:45 – Employment Change q/q - Unemployment Rate
12:00 - RBNZ Gov Wheeler Speaks
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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